Penn National Gaming's Net Jumps 28%,
While Its Revenue More Than Doubles

a Wall Street Journal Staff Reporter

Updated April 24, 2001 12:29 a.m. ET

Penn National Gaming Inc., an owner and operator of casinos, racetracks and off-track-betting parlors, said first-quarter net income rose 28% and revenue more than doubled due to an increase in slot-machine installations and the acquisition of two Mississippi casinos.

Net income totaled $4.6 million, or 30 cents a diluted share, compared with $3.6 million, or 24 cents a share, a year earlier. Sales rose to $106.2 million from $52.7...